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July, 30, 2016

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Business > Asia > China
Beijing show showcases China's SUV love affair
China's love affair with SUVs is helping to cushion the blow of an unexpectedly painful slump in the rest of its crowded auto market.
 
China's economy expanded at its slowest rate in seven years during the first quarter, the mainland authorities said Friday, but forecast-beating readings for March raised hopes a growth slowdown in the Asian giant may be bottoming out.
 
Chinese exports surged in March, the first gain in nine months and the latest positive data out of the world's No. 2 economy, but analysts warned Wednesday's headline figure masked ongoing weakness in overseas demand.
 
SUV demand boosts China auto sales by 10% in March
Chinese auto sales rose by nearly 10 percent in March, led by strong demand for SUVs that more than offset slipping passenger car sales, an industry group said Tuesday.
 
Steeling for a struggle: China workers face turmoil
Hundreds of laid-off steelworkers gathered outside their former employer's office this week to protest at losing their jobs, victims of a global glut.
 
China manufacturing expands for first time in 9 months: gov't
Mainland Chinese factories ramped up activity in March for the first time in nine months, official data showed Friday, offering a positive signal for the health of the world's second-largest economy.
 
S&P lowers China outlook to negative
Ratings agency Standard & Poor's (S&P) cut its outlook on mainland China from stable to negative on Thursday, warning that economic rebalancing was taking longer than expected.
 
Huge industrial overcapacity in mainland China will drag on both the mainland's and the region's growth this year, the Asian Development Bank said Wednesday, cutting its forecast for the world's second-largest economy.
 
The Guangdong Yixiang Folk Culture Co. has a license to print money -- thousands of look-alike U.S. dollars roll off its clattering presses every minute, intended as burnt offerings for the heavenly bank accounts of Chinese ancestors.
 
China's central bank fixed its currency exchange rate at a three-month high against the U.S. dollar on Friday as the greenback sank.
 
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